· Ampd Energy deploys battery-powered energy storage systems to replace diesel generators to cut greenhouse emissions at construction sites
· MTR Corp has set aside over HK$300 million (US$38.2 million) to invest in start-ups from 2022 to 2025
MTR Lab, a subsidiary of Hong Kong’s railway operator that invests in technology, has invested in local battery-powered energy storage system provider Ampd Energy to fund its expansion projects in the United Arab Emirates and United States.
Hong Kong start-up Ampd received US$8 million in funding from MTR Lab and venture capital firms 2150 and Taronga Ventures, according to a joint statement on Tuesday.
“This co-investment validates the importance of our energy storage solutions, empowers us to accelerate our expansion plans, and supports our R&D work on new solutions,” said Brandon Ng, co-founder and CEO of Ampd Energy in the statement.
Ampd deploys battery-powered energy storage systems to replace diesel generators to cut greenhouse emissions at construction sites. Its systems have been deployed by developers including Swire Properties, Sun Hung Kai Properties and Sino Group, as well as construction companies such as Gammon Construction and Paul Y Engineering.
“We’re currently in the final stages of developing a new hypermobile product, designed for daily movement to meet the needs of users in mobile worksites, like infrastructure projects. With the combined expertise and resources of our partners, we are confident in our ability to create a sustainable impact in the construction industry,” said Ng.
Founded in 2014 as a start-up supported by the incubation programme of the Hong Kong Science and Technology Park, Ampd has now expanded its business to Singapore, Australia and the United Kingdom. The company was a finalist of the Earthshot Prize 2022, an award established by Britain’s Prince William to recognise ideas that help the environment.
Each of Ampd’s systems, called Enertainers, consists of more than 30,000 lithium-ion battery cells, which power equipment such as cranes, pumps and arc welders. The box-shaped mobile energy storage systems stand 2.6 metres high and weigh nearly 8.5 tonnes.
More than 200 of these Enertainers have been deployed across the world. They are nearly 32 two times quieter and emit as much as 85 per cent less carbon dioxide than traditional diesel generators.
The systems have prevented over 28,000 tonnes of CO2 emissions and stopped nearly 59,000 cars worth of air pollutants, while reducing noise levels at construction sites, according to the statement.
“This strategic partnership is a testimony to our support for sustainable technologies that contribute to a greener future and for Hong Kong start-ups with global ambitions,” said Michael Chan, managing director of MTR Lab. “As more industry players begin to recognise the need to switch to low-carbon approaches in construction, we are excited to see Ampd grow into a globally competitive energy storage system provider.”
MTR Lab, a subsidiary of Hong Kong’s railway operator that invests in technology, launched a collaboration with Cyberport last June to jointly invest in digital tech start-ups to help Hong Kong develop into a smart city. MTR Corp has set aside more than HK$300 million (US$38.2 million) to invest in start-ups from 2022 to 2025.
Reducing carbon emissions from electric energy systems at construction sites is also in line with MTR Corp’s goal to achieve carbon neutrality by 2050.
Financial Secretary Paul Chan Mo-po unveiled initiatives to transform the city into an international green technology and finance centre in his budget speech in February.
Among the initiatives Chan outlined was a plan to build a green tech “ecosystem” to attract the best people and enterprises, and encourage collaboration in industry, academia and research communities to accelerate commercialisation of innovative technology.
Hong Kong’s carbon emissions from energy declined 5 per cent to 64.6 million tonnes in 2021 from a year ago, according to international energy firm BP. This compares with Singapore’s 215.7 million tonnes of energy related emissions in 2021, an acceleration of 2.2 per cent versus a year ago.
